Advances in Economics, Management and Political Sciences

- The Open Access Proceedings Series for Conferences


Proceedings of the 7th International Conference on Economic Management and Green Development

Series Vol. 43 , 10 November 2023


Open Access | Article

Financial Technology and Risk Management

Yibo Zhen * 1
1 King George V School

* Author to whom correspondence should be addressed.

Advances in Economics, Management and Political Sciences, Vol. 43, 119-124
Published 10 November 2023. © 2023 The Author(s). Published by EWA Publishing
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Citation Yibo Zhen. Financial Technology and Risk Management. AEMPS (2023) Vol. 43: 119-124. DOI: 10.54254/2754-1169/43/20232137.

Abstract

This essay gives a general overview of how fintech has impacted the financial services sector, highlighting the significance of technologies like blockchain, Robo-Advisors, online payment, and P2P lending. The essay examines how blockchain technology affects financial transactions, including its potential to replace conventional middlemen and improve security and transparency. The rise of Robo-counselors as a disruptive technology that gives investors a cheap and practical substitute for traditional financial counselors is also covered. The article emphasizes the significance of striking a balance between technology and human competence by contrasting the benefits and drawbacks of robot advisors with those of actual advisors. Furthermore, the essay covers the expansion of online payment options, such as digital wallets and mobile payment applications, and how these may change how customers make purchases. Finally, the article explores the potential and hazards raised by the emergence of peer-to-peer lending platforms, which give borrowers an alternative to conventional bank loans. Overall, the article underlines how fintech has the potential to revolutionize the financial services sector, but it also stresses how crucial it is to strike a balance between innovation, financial stability, and regulatory compliance.

Keywords

digital transformation, financial technology, risk assessment

References

1. Mention, A.: (2019). The Future of Fintech. Research-technology Management, 62(4), 59–63 (2019).

2. Financial Stability Board. https://www.fsb.org, last accessed 2023/06/25.

3. Hasan, M., & Hoque, A.: FinTech Risk Management and Monitoring. In Springer eBooks, pp. 3–16 (2023).

4. Seetharaman, A., Saravanan, A. S., Patwa, N., & Mehta, J. N.: Impact of Bitcoin as a World Currency. Accounting and Finance Research, 6(2), 230 (2017).

5. Wang, Q.: Non-Fungible Token (NFT): Overview, Evaluation, Opportunities and Challenges. Southern University of Science and Technology (2021).

6. Keffert, H.: Robo-Advising: Optimal Investment with Mismeasured and Unstable Risk Preferences. SSRN (2023).

7. Da Palma, P. J., Cunha, M. P. E., & Lopes, M. P.: Decision Making Process on Investing in Fintechs: Investor Specialization and Positive and Negative Information Bias. Journal of Management & Technology, 5(1), 1–27 (2016).

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10. Bholat, D. & Atz, U.: Peer-to-Peer Lending and Financial Innovation in the United Kingdom. Bank of England Working Paper, 2016 (598).

11. Gao, Y., Yu, S. H., & Shiue, Y.: The performance of the P2P finance industry in China. Electronic Commerce Research and Applications, 30, 138–148 (2018).

Data Availability

The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

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Volume Title
Proceedings of the 7th International Conference on Economic Management and Green Development
ISBN (Print)
978-1-83558-107-0
ISBN (Online)
978-1-83558-108-7
Published Date
10 November 2023
Series
Advances in Economics, Management and Political Sciences
ISSN (Print)
2754-1169
ISSN (Online)
2754-1177
DOI
10.54254/2754-1169/43/20232137
Copyright
© 2023 The Author(s)
Open Access
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited

Copyright © 2023 EWA Publishing. Unless Otherwise Stated